Embraer closes $1bn loan with 25 banks
Embraer has closed a $1 billion loan facility with 25 international banks. BNP Paribas led the deal.
Embraer has closed a $1 billion loan facility with 25 international banks. BNP Paribas led the deal.
The two year loan splits into two parts: $ 400 million for pre-export financing and $600 million for working capital. It replaces a $500 million facility that the manufacturer closed in August 2006 and was increased due to lender interest.
“The closing of this operation demonstrates Embraer’s high degree of credibility, because this is a credit line of $ 1 billion that is available for withdrawals under pre-agreed conditions,” said Luiz Carlos Aguiar, CFO of Embraer. “The agreement also contributes to improving our credit risk classification in the near future.”
BNP Paribas, Banco do Brasil, HSBC, Intesa Sanpaolo, Santander, Societé Générale, and Bank of Tokyo-Mitsubishi were bookrunners.
Banco de Chile, Banco Espírito Santo, Bank of America, BBVA – Banco Bilbao Vizcaya Argentaria, Bradesco, Chang Hwa Commercial Bank, Citibank, Credit Agricole, Credit Industriel et Commercial, Hua Nan Commercial Bank, ING, Itaú BBA, JPMorgan Chase, Mizuho Corporate Bank, Natixis, Sumitomo Mitsui Banking Corporation, The Bank of Taiwan, and The Royal Bank of Scotland also participated.
